(Warning - May cause offense and distress)
It's a tale as old as the markets themselves - to use indicators or to not use indicators, that is the question.
And to bring the answers you so desire it's none other than yours unruly - me, Ninja Nick! So buckle up because my way is totally biased, based, unapologetic and of course 100% correct forever and always.
Now on with the show...
I'd like to take this opportunity to apologize to absolutely nobody! The pure price action specialist does whatever the fook he wants.
I hope that answers the question of what side I'm on - for those that didn't get the Conor McGregor reference, I'm against trading indicators - with one caveat...
*...I understand that people can make them work, I'm not saying they're useless, but for me in my over 10 years of experience I'm yet to see one that jumps out at me like a supermodel in the street.
So with that said, here are some reasons I personally loathe, hate and despise (most) trading indicators:
(1) They're BS marketing techniques - case in point, the founder of the MACD said he gave it an acronym name because acronym products create more mystery and sell better. And he's not wrong, but still, BS marketing technique.
(2) Too many variables to take into consideration before placing a trade and for someone that practices KISS (Keep it Simple Stupid) I find it's complexity more offensive than putting ketchup on a steak.
(3) Your charts look like an A.I rendition of a Pablo Picasso painting, so for that brilliant reason I'm out.
(4) The data is lagging - we already get the milk skimmed off out Tea by complex algorithms so why would I outsource my decision making further to baby Terminator? Not on my watch - I won't be back.
(5) I love pure price action and I don't know why, I've tried everything over my vast learning curve from financial filings, indicators, depth of market trading, algorithms, you name it I've fumbled with it and I can confidently say without a shadow of a doubt that my genius would be nothing without a pure virgin chart as my canvas.
So that's all for this episode, if you liked this then follow and drop a like for the algo (the good kind).
And always remember, keep your blades sharp Ninja!
Nick
It's a tale as old as the markets themselves - to use indicators or to not use indicators, that is the question.
And to bring the answers you so desire it's none other than yours unruly - me, Ninja Nick! So buckle up because my way is totally biased, based, unapologetic and of course 100% correct forever and always.
Now on with the show...
I'd like to take this opportunity to apologize to absolutely nobody! The pure price action specialist does whatever the fook he wants.
I hope that answers the question of what side I'm on - for those that didn't get the Conor McGregor reference, I'm against trading indicators - with one caveat...
*...I understand that people can make them work, I'm not saying they're useless, but for me in my over 10 years of experience I'm yet to see one that jumps out at me like a supermodel in the street.
So with that said, here are some reasons I personally loathe, hate and despise (most) trading indicators:
(1) They're BS marketing techniques - case in point, the founder of the MACD said he gave it an acronym name because acronym products create more mystery and sell better. And he's not wrong, but still, BS marketing technique.
(2) Too many variables to take into consideration before placing a trade and for someone that practices KISS (Keep it Simple Stupid) I find it's complexity more offensive than putting ketchup on a steak.
(3) Your charts look like an A.I rendition of a Pablo Picasso painting, so for that brilliant reason I'm out.
(4) The data is lagging - we already get the milk skimmed off out Tea by complex algorithms so why would I outsource my decision making further to baby Terminator? Not on my watch - I won't be back.
(5) I love pure price action and I don't know why, I've tried everything over my vast learning curve from financial filings, indicators, depth of market trading, algorithms, you name it I've fumbled with it and I can confidently say without a shadow of a doubt that my genius would be nothing without a pure virgin chart as my canvas.
So that's all for this episode, if you liked this then follow and drop a like for the algo (the good kind).
And always remember, keep your blades sharp Ninja!
Nick